Advisors from KPMG’s Gatwick office have advised Surrey based Prater Ltd, the UK’s leading building envelope specialist on a deal in which they were acquired for an undisclosed sum by German Linder Group.
With an annual turnover of £65m, Prater Ltd, which is based in based in Salfords, is ranked first among the UK’s top specialist contractors. Disciplines include rainscreen and rendered façade systems, composite cladding, structural waterproofing as well as aluminium and traditional metal standing seam roofing systems and they have participated in significant projects, such as Emirates Stadium, Westfield White City, Olympic Stadium and various Airport schemes.
Nick Standen, Head of Corporate Finance at KPMG in Gatwick commented : “We were delighted to have helped Prater Ltd in this process as they are a strong and well regarded local business. These are family businesses which have very similar cultures and are great strategic fit. The acquisition will allow Prater Limited to expand their business into international territories and take their skill set overseas to new markets.”
The Lindner Group, through Lindner Facades, is already well established in the UK, Germany and the Middle East bespoke facades market and has successfully completed major facades projects including landmark schemes such as 30 Crown Place, Greenwich Peninsula, Harlequin BSkyB and Heathrow Terminal 5. This latest acquisition will allow Lindner to significantly expand in both the façade and the complete building envelope sectors. Prater Ltd will benefit from the strong backing that a financially secure, highly regarded and globalised contracting group can provide.
The strong Prater brand name, Prater’s management and 300 highly skilled staff and workforce will remain unchanged by the acquisition.
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For further information please contact :
Emma Murray, PR Manager, KPMG 020 7694 6506 emma.murray@kpmg.co.uk
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KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with nearly 11,000 partners and staff. The UK firm recorded a turnover of £1.6 billion in the year ended September 2010. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 150 countries and have more than 138,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.
